National Residential have been at the forefront in setting standards for selling property quickly and fairly since we began in 2007. We were a select group of industry representatives selected to define a Code of Practice For Quick House Sales Companies to The Property Ombudsman (TPO) and in 2013 we helped set up the National Association of Property Buyers (NAPB) to inform the public of companies that agree to the principles and abide by the practices listed in the code.
At the heart of the code is transparency – see Code of Practice for Residential Property Buying Companies
We believe that selling property using our ‘Modern Auctions’ method adds convenience and transparency to our property sales:
- by accepting a combination of online and telephone bids ensures no-one is prevented from making an offer due to other commitments, inexperience of internet bidding or financial arrangements that prevent us ring fencing funds for the holding deposit until the auction ends.
- all offers (including telephone bids) are added to the auction and our consultants keep all participating parties informed.
Although the process that follows online bidding to secure a purchasers agreement usually takes just 24 hours to conclude it can sometimes take longer and the bidding process is only formally ended once we are sure we have the highest bid, the seller has accepted this bid, and the winning buyer has paid their deposit and has passed the financial qualification process with our sales team.
To complement our existing sales options by providing sellers a faster qualification period and more certainty to the highest bidder at the end of an auction, we are pleased to introduce ‘Registered Auctions’ which will run alongside our existing auctions.
The platform is provided by the ‘Essential Information Group’ (EIG), a secure, independent online auction service provider since 1991.